Marketing Planning for Entrepreneurs
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Presentation on marketing planning delivered to The Entrepreneurs Network in London, September 2010
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Marketing Planning for Entrepreneurs
- 1. Marketing Planning for TEN Delivered by Andy Bargery September 2010 Klaxon Marketing
- 2. Questions Who is Andy? What is marketing? Why plan? Is there a planning framework? Should you think about Sales? Are there other factors to consider? What should you do to get started?
- 3. Questions Who is Andy? What is marketing? Why plan? Is there a planning framework? Should you think about Sales? Are there other factors to consider? What should you do to get started?
- 4. Who is Andy? Director, Klaxon Marketing Strategy, communication, lead generation, outsourced Brands include: Oracle, lastminute.com Small business Associate Member of the CIM
- 5. Questions Who is Andy? What is marketing? Why plan? Is there a planning framework? Should you think about Sales? Are there other factors to consider? What should you do to get started?
- 6. What’s Marketing? “Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably.” Chartered Institute of Marketing “Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.” Kotler “The fundamental premise of 'marketing' is to understand customer behaviour, segment them by 'needs' and then define value propositions that would appeal to the most promising segments.” Girish Balachandran, Associate Director Ketchum Pleon
- 7. What’s Marketing? In practice... “Marketing is the management of acquiring targeted sales leads.”
- 8. Questions Who is Andy? What is marketing? Why plan? Is there a planning framework? Should you think about Sales? Are there other factors to consider? What should you do to get started?
- 9. Benefits of Planning Manage performance of your marketing Drive return on investment (ROI) Control your budgets Identify which tactics work Reduce your costs (and increase profits) Maintain sanity!
- 10. Questions Who is Andy? What is marketing? Why plan? Is there a planning framework? Should you think about Sales? Are there other factors to consider? What should you do to get started?
- 12. Where do we want to get to?
- 13. How are we going to get there?
- 14. What’s actually going to happen?
- 15. When is it going to happen?
- 17. Questions Who is Andy? What is marketing? Why plan? Is there a planning framework? Should you think about Sales? Are there other factors to consider? What should you do to get started?
- 18. The Sales Funnel
- 19. Driving Sales Pipeline Marketing Tactics Advertising Media relations Website / SEO / Social media Events & Webinars Direct Mail Email marketing Case studies Telemarketing Product demos Sales call Sales collateral Hospitality
- 20. Questions Who is Andy? What is marketing? Why plan? Is there a planning framework? Should you think about Sales? Are there other factors to consider? What should you do to get started?
- 22. Distinguished target customer groups?
- 23. Identified decision makers & influencers?
- 24. Researched where your customers look for information?
- 25. Considered the barriers to trial?
- 27. Next Steps
- 28. Contact me Andy Bargery Director Klaxon Marketing Tel: +44 (0)20 7193 6627 Email: andybargery@klaxonmarketing.co.uk Twitter: @abarge Blog: www.klaxonmarketing.co.uk
Editor's Notes
- Importantly we should talk about what Marketing isn’t too. Advertising. it isn’t just communications.
- 1. 'planning' up front will enable you to align your marketing effort to customer needs and align you marketing campaign to specific segments
- Situation AnalysisSWOT analysisCompetitionMarket positioningObjectivesDefine what you want to achieve e.g. Sales growth, market share, increased profitability3. StrategyWhat are the factors involved in achieving each objective e.g. Sales example, develop value propositions and build sales pipeline4. TacticsThe specific campaign elements. For example telemarketing for building sales pipeline5. Action Schedule your campaign into ensure it integrates with over campaigns and is well managed6. Control Keeping track of who does what, when and at what cost – the measurement side of things.
- What are the core tactics for generating sales leads and how should sales and marketing work together? In reality, you probably are the sales and marketing department right. It really depends on your target audience and your product or product category. No two circumstances will require the same marketing tactics. You might try to link your marketing tactics to the stage of the product lifescycle too...To target previously untapped markets with a new product, the target audience doesn't usually know what the problem is so there is a need to define it (size, cost, impact, risk and opportunity) before there is any talk of solutions...this could broadly fit into the 'awareness building stage' from a marketing perspective and corresponds nicely with your sales funnel - where advertising and media relations spend would be most justified. (mostly marketing driven vs. sales)- The next segment could consist of prospects who know what the problem is but don't know where to find the solution. This broadly fits the 'interest and desire' stages of your funnel and here the challenge is to position the product/service as the most appropriate channel/tactic to meet the customers needs. (marketing and sales working hand in hand) - The final segment could be prospects who've bought into the most appropriate channel/tactic to solve their problem and only need to find 'the best solution' i.e the choice of product/vendor. This is the 'action'/'close the deal' stage of your funnel where marketing pretty much hands over to sales.
- As part of your planning process, you need to ensure you can answer these questions. Why? Because without understanding your customer, you cannot hope to define an effective marketing plan. Remember the definitions of marketing..“Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably.”
- Examine the core questionsImplement the planning frameworkLink your tactics to the sales funnelExecute your planMeasure successStart all over again...